99 Washington Street

The third quarter of 2014 has been extremely productive for Gene Kaufman, one of New York City’s most controversial architects. The ever-growing demand for hotels in the city—as seen in the traditional submarket of Midtown Manhattan, but also in Queens and Brooklyn, where the demand for new hotel rooms is also on the rise—resulted in 16 projects totaling more than 1,000,000 square feet of new construction underway between July 1 and October 1.

A recently published report by Morgan Stanley shows that Airbnb's initial utilization rate prediction for 2017 will only be reached by the end of next year. In the light of the platform's struggles to maintain the momentum gained in 2015 and 2016, online travel agencies gain significant ground.